First Majestic Silver Corp T.AG

Alternate Symbol(s): AG

Metals & Mining Silver

First Majestic Silver Corp. is a mining company. It is focused on silver and gold production in Mexico and the United States. It owns and operates the San Dimas Silver/Gold Mine, the Santa Elena Silver/Gold Mine, and the La Encantada Silver Mine, and a portfolio of development and exploration assets, including the Jerritt Canyon Gold project located in northeastern Nevada, United States. It also owns and operates its own minting facility, First Mint, LLC, and offers a portion of its silver production for sale to the public. The San Dimas Silver/Gold Mine is located over 130 kilometers (km) northwest of the city of Durango, Durango State, Mexico and consists of 71,868 hectares of mining claims located in the states of Durango and Sinaloa, Mexico. The Santa Elena Silver/Gold Mine is located over 150 km northeast of the city of Hermosillo, Sonora, Mexico. The La Encantada Silver Mine is an underground mine located in the northern Mexico State of Coahuila, 708 km northeast of Torreon.

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First Majestic Silver Corp

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Post by martindaleon Jan 31, 2021 2:18am

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Post# 32430546

Jus getting started people..!

First Majestic Short Squeeze Just Beginning

Summary

First Majestic Silver shares are the most heavily shorted among the mining sector.

The stock is undergoing a short squeeze as we speak, due to higher silver prices and the Reddit crowd targeting the stock, forcing shorts to cover.

First Majestic shares were up 30%-40% pre-market Friday but could be heading much higher if shorts cover positions.

First Majestic Silver Short-Squeeze

First Majestic Silver (AG) is the most heavily shorted stock in the precious metals sector, with short interest 22.26% of the float, and $549.19 million of total dollar volume is sold short, according to Marketbeat.

The stock was up 20%+ on Friday due a combination of factors: higher silver prices (SLV) which rose 5.5%, positive news on its Mexican tax situation, and presumably, new buying from the Reddit crowd, and short covering..

Shorts are only just beginning to cover AG positions, and the stock could be on the verge of a massive run - maybe as not as spectacular as what we've seen with GameStop (GME) since that stock was shorted more than 100% of its float, but remarkable in its own right. A stock price of $50 or higher cannot be ruled out, especially if silver makes a run past $30/oz.